AS Latvenergo has entered into two short-term loan agreements for working capital financing and liquidity management for a total of 90 million euros, the company said in a statement to the stock exchange Nasdaq Riga.
Latvenergo With OP Corporate Bank plc The Latvian branch has entered into a short – term loan agreement in the amount of EUR 60 million, but with SEB bank – EUR 30 million. Both contracts have a term of up to two years.
Procurement organized for concluding short-term loan agreements.
The company also notes that Latvenergo capital raising is performed as planned and regularly, providing timely financing for both capital investments and liquidity management.
It has already been reported that Latvenergo The group’s turnover in the first nine months of 2021 was 659.543 million euros, which is 16.9% more than in the corresponding period of the previous year, while the group’s profit decreased 3.6 times to 26.403 million euros.
In turn, in 2020 Latvenergo The group’s audited turnover was 773.391 million euros, which is 8.1% less than a year earlier, but the group’s profit increased by 23.3% to 116.309 million euros. At the same time, the group’s parent companies Latvenergo turnover decreased by 11.9% to 385.612 million euros, while the company’s profit increased by 53% to 154.848 million euros.
Latvenergo is engaged in the production and sale of electricity and heat, as well as in the sale of natural gas and the provision of electricity distribution services. Latvenergo owned by the state, but the company’s bonds are listed on stock exchanges Nasdaq Riga in the list of debt securities.